INDIA, Mauryan Empire. Circa 2nd century BC. Karshapana (Silver, 15 mm, 3.29 g). Three punches: three human figures, scales symbol, peacock standing to right on hill. Rev. Peacock standing to right on hill. Pieper 145. Rare in this shape. About very fine.

There is some debate over the identification of the three human figures in the lower obverse punch. One compelling theory proclaims that they represent the mythical heroes of the Ramayana - Ram, Sita and Lakshman. It is worth noting that the circular karshapanas, made from a droplet planchet, are much rarer than the square shaped examples. The flans for Mauryan punch-marked coins were usually cut from sheets of metal and were hence square in shape, whereas the droplet method of producing flans, which resulted in round coins, was used quite rarely